Sanders Morris Harris LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,590 shares of the iPhone maker’s stock after acquiring an additional 1,050 shares during the period. Apple comprises approximately 1.1% of Sanders Morris Harris LLC’s holdings, making the stock its 22nd largest position. Sanders Morris Harris LLC’s holdings in Apple were worth $2,677,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Saratoga Research & Investment Management grew its position in shares of Apple by 0.6% during the 1st quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock valued at $95,840,000 after acquiring an additional 4,137 shares during the period. Pinnacle Bank purchased a new position in shares of Apple during the 1st quarter valued at $1,924,000. Green Square Capital LLC lifted its stake in shares of Apple by 6.7% during the 1st quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock valued at $12,564,000 after buying an additional 5,491 shares in the last quarter. Nicolet Bankshares Inc. lifted its stake in shares of Apple by 3.1% during the 1st quarter. Nicolet Bankshares Inc. now owns 27,684 shares of the iPhone maker’s stock valued at $3,977,000 after buying an additional 844 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC lifted its stake in shares of Apple by 2.0% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 43,345 shares of the iPhone maker’s stock valued at $6,227,000 after buying an additional 848 shares in the last quarter. 60.36% of the stock is owned by hedge funds and other institutional investors.
AAPL has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of Apple from $177.00 to $182.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. Needham & Company LLC restated a “buy” rating and set a $175.00 target price (up previously from $165.00) on shares of Apple in a research note on Wednesday, August 2nd. They noted that the move was a valuation call. Cleveland Research upgraded shares of Apple from a “neutral” rating to a “buy” rating and set a $197.00 target price on the stock in a research note on Tuesday, August 29th. Bank of America Corporation restated a “buy” rating and set a $180.00 target price (up previously from $175.00) on shares of Apple in a research note on Wednesday, August 2nd. Finally, Canaccord Genuity restated a “buy” rating and set a $180.00 target price on shares of Apple in a research note on Monday, July 10th. Nine analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $189.61.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. During the same period in the previous year, the business earned $1.42 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts expect that Apple Inc. will post $9.01 earnings per share for the current fiscal year.
In related news, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Johny Srouji sold 5,892 shares of Apple stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the sale, the insider now owns 70,358 shares in the company, valued at $11,327,638. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 541,177 shares of company stock worth $85,864,804. Company insiders own 0.08% of the company’s stock.
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Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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